A chargeback is a transaction that is disputed by the cardholder or the cardholder’s issuing bank institution. It occurs mostly when proper card acceptance and authorization procedures are not followed.
When a card merchant receives a chargeback, their deposit account will be debited for the indicated amount.
The merchant may incur an additional fee if he or she failed to follow card acceptance and authorization procedures.
Tags: alliedbanc, charge back, credit card charge back
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